The case for advertising includes the idea that
A. firms spend large sums of money to create meaningless differences among products.
B. it adds to society's scarce resources.
C. it creates wants that otherwise would not have existed.
D. it can promote competition.
Answer: D
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Which labor market statistic tends rise during recessions and fall during expansions?
A) the unemployment rate B) the labor-force participation rate C) the employment-to-population ratio D) aggregate hours
Contractionary fiscal policy should be used if:
A) aggregate demand-aggregate supply equilibrium is below potential output. B) aggregate demand-aggregate supply equilibrium is above potential output. C) aggregate demand-aggregate supply equilibrium is equal to potential output. D) none of the above.
Two variables that have a positive correlation move in the same direction
a. True b. False Indicate whether the statement is true or false
You are the Minister of Trade for a small island country with the following annual PPC:
You are negotiating a trade agreement with a neighboring island with the following annual PPC:
What's the minimum number of fish you would be willing to accept in exchange for a coconut?
A. 4 B. 3 C. 5 D. 2